Description
VALUE FOR MONEY AUDIT.
Day 1: Introduction to Value for Money Audit
Morning Session
- Understanding Value for Money
- Definition and components (economy, efficiency, and effectiveness)
- Importance of VfM in public and private sectors
Afternoon Session 3. Frameworks and Standards
- International and national frameworks
- Standards and guidelines (e.g., INTOSAI, NAO)
- Case Studies
- Review of successful VfM audits
- Group discussion on lessons learned
Day 2: Planning a Value for Money Audit
Morning Session
- Audit Planning Process
- Identifying audit objectives and scope
- Risk assessment and prioritization
- Developing Audit Criteria
- Establishing benchmarks and performance indicators
- Setting measurable targets
Afternoon Session 3. Data Collection Methods
- Qualitative and quantitative data collection techniques
- Tools and resources for data gathering
- Planning Exercise
- Group activity: Develop a VfM audit plan for a hypothetical project
Day 3: Conducting the Value for Money Audit
Morning Session
- Executing the Audit
- Fieldwork strategies and methodologies
- Gathering and verifying evidence
- Economy and Efficiency Analysis
- Techniques for assessing cost-effectiveness
- Analyzing resource utilization
Afternoon Session 3. Effectiveness Evaluation
- Measuring outcomes and impacts
- Techniques for assessing program effectiveness
- Practical Exercise
- Case study analysis: Conducting VfM assessments on provided scenarios
Day 4: Reporting and Communication
Morning Session
- Audit Reporting
- Structuring the VfM audit report
- Key elements and best practices
- Recommendations and Action Plans
- Developing actionable recommendations
- Prioritizing actions for improvement
Afternoon Session 3. Communication Strategies
- Presenting findings to stakeholders
- Handling feedback and follow-up
- Workshop
- Group activity: Draft a VfM audit report and present findings
Day 5: Practical Applications and Advanced Topics
Morning Session
- Advanced VfM Audit Techniques
- Use of technology in VfM audits
- Integrating VfM with other audit types
- Sector-Specific VfM Audits
- Approaches for different sectors (e.g., healthcare, education, infrastructure)
Afternoon Session 3. Interactive Session
- Role-playing exercises: Conducting stakeholder interviews and presentations
- Course Wrap-Up and Evaluation
- Review of key learnings
- Participant feedback and course evaluation
Description
Course Objectives
- Understand the concept and importance of Value for Money.
- Learn the methodologies and frameworks for conducting VfM audits.
- Develop skills to assess economy, efficiency, and effectiveness in organizational operations.
- Gain practical experience in planning, executing, and reporting on VfM audits.
- Enhance the ability to provide actionable recommendations for improving VfM.
General Notes
GENERAL NOTES
i. The clients have many options on where they would wish to have the training
ii. The client should communicate their preferred training venue at least seven days before the training date failure to which the training shall take place in Nairobi.
iii. This course is delivered by our seasoned trainers who have vast experience as expert professionals in the respective fields of practice. The course is taught through a mix of practical activities, theory, group works and case studies.
iii. Training manuals and additional reference materials are provided to the participants.
iv. Upon successful completion of this course, participants will be issued with a Chania finance consultancy certificate.
v. The onsite training fee covers tuition fees, training materials, tea at 10am, lunch, tea at 4pm, training venue and a certificate on completion. Accommodation and travel may be arranged for our participants upon request.
vi. The online training fee covers tuition fees, training materials, and a certificate on completion.
Available at the following Venues
- Nairobi
- Google Meet
Choose the date you would like to take the course
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